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Good record keeping can cut your taxes and make your financial life easier.

In business, good record keeping is essential not only for tax reporting purposes but also for the success of the company. The guidelines below give retention periods for the most common business records. Call us if you’d like more information or assistance with your record retention program.

All records must be retained for at least the minimum period as stated in an applicable state statute or federal law or regulation. State laws may vary dramatically. Accordingly, your individual situation should not be relied on or used as a substitute for professional or legal research, advice or analysis. In no event should this handout be construed as the rendering of advice or services by Bauman Associates CPAs & Advisors.

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